{"id":90763,"date":"2024-10-22T00:00:00","date_gmt":"2024-10-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/22\/tamkeen-hr-prices-tadawul-ipo\/"},"modified":"2024-10-22T00:00:00","modified_gmt":"2024-10-22T00:00:00","slug":"tamkeen-hr-prices-tadawul-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/22\/tamkeen-hr-prices-tadawul-ipo\/","title":{"rendered":"Tamkeen HR prices Tadawul IPO"},"content":{"rendered":"

Homegrown manpower provider Tamkeen HR priced its IPO top of the indicative range at<\/strong> SAR 50 <\/strong>apiece,<\/strong> according to a statement (pdf)<\/a>. The final pricing will see selling shareholders lock in some SAR 397.5 mn in total proceeds, giving the firm a market cap of SAR 1.3 bn at listing. The institutional tranche of the offering was sold out within hours<\/a> of opening last week.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

REFRESHER- <\/strong>The labor agency is taking a 30% stake<\/a> to Tadawul's main market in a secondary share sale, meaning the firm will not receive any of the IPO\u2019s proceeds. Selling shareholders will take home net proceeds from the sale on a pro-rata basis, after SAR some 25 mn in IPO-related expenses are covered. <\/p>\n

The two-day retail subscription kicks off today.<\/strong> Individual investors will be allocated 20% of the total shares on offer, and may book as much as 250k shares each with the lower limit set at 10 shares each. <\/p>\n

What\u2019s next?<\/strong> The final allocation of shares will take place on Monday, 11 November, with any excess subscription fees refunded by Wednesday, 13 November. The first day of trading has not yet been set. <\/p>\n

ADVISORS- <\/strong>Saudi Fransi Capital is quarterbacking the transaction as lead manager, financial advisor, bookrunner and underwriter, with Stat Law Firm providing counsel to the issuer. Meanwhile, PwC will act as financial due diligence advisor and Euromonitor International is stepping in as market study consultant, and Baker Tilly MKM as auditor. Receiving agents include Saudi Fransi Capital, Al Rajhi Bank, SNB Capital, Riyadh Capital, Albilad Investment, and others.<\/p>\n

\n

SAUDI IPO PIPELINE AT A GLANCE-<\/p>\n

Among the transactions now in the market or expected soon:<\/strong><\/p>\n